5,000 metres of drilling to expand the high-grade Nickel-PGE Perseus Zone
LONGUEIL, Quebec, July 16, 2026 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. ("Azimut" or the "Company") (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce that a comprehensive partner-funded exploration program is commencing on the Kukamas Property (the "Property") in the Eeyou Istchee James Bay ("James Bay") region of Quebec, Canada.
The Property is subject to an option agreement with KGHM International Ltd ("KGHM"). KGHM has earned a 50% interest in the Property and has elected to enter the second option phase to earn an additional 20% interest upon delivery of a preliminary economic assessment. Azimut remains the operator of the 2026 program.
2026 Exploration Program
The $3.4-million work program will be deployed over the two (2) blocks of the Property (see Figures 1 to 4):
Kukamas East Block
Priority is given to the advancement of the high-grade nickel-PGE (platinum group element) Perseus discovery through the following work:
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An induced polarization ("IP") survey over the komatiite sequence hosting the mineralized zone to identify its footprint and generate new drilling targets (completed, see below).
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5,000 metres of diamond drilling, mostly dedicated to expanding Perseus.
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Detailed mapping and mechanical trenching of the southern part of the claim block to further define copper and copper-gold targets associated with a felsic-intermediate volcaniclastic sequence.
Kukamas West Block
Additional advanced reprocessing of electromagnetic anomalies (Geotech VTEMTM).
A high-resolution heliborne magnetic-electromagnetic survey to cover the northern part of the claim block (40 km2, 550 line-kilometres at 100-metre line spacing).
Prospecting traverses over selected parts of the claim block, which remains largely unexplored.
Program Specifications
Induced Polarization Survey
TMC Geophysics of Val-d'Or, Québec, completed an IP survey covering a 1.8-kilometre strike extent of the Perseus komatiite sequence and centred on the Perseus Ni-PGE Main and East Zones. Overall, 22.57 line-kilometres were surveyed using a dipole-dipole array (a = 37.5 m; n = 1 to 8). Line spacing was 25 metres over the Perseus Zone and 50 metres elsewhere. The survey was conducted to complement previously acquired magnetic and electromagnetic ground and airborne data, specifically to detect disseminated-type magmatic sulphide mineralization.
The survey defined moderate to very strong chargeability anomalies within the komatiite sequence to the south and southeast of the Perseus Zone. These anomalies are considered high-priority drill targets to extend the Perseus Zone and discover additional sulphide mineralization.